The gold price keeps fluctuating near the intraday bullish channel’s support above this level, while stochastic provides a positive overlapping signal on the four-hour time frame supporting the chances of bouncing higher to resume the bullish trend in the upcoming sessions. The price is likely to breach 1,263.17 levels to confirm the extension of the bullish wave to 1,300.00. Therefore, the bullish trend will remain preferred on the intraday basis unless breaking 1,250.00 levels, which will delay the bullish wave and push the price to 1,231.13 before any new attempt to rise. The expected trading range for today is between the 1,242.00 support and the 1,270.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Overview
The gold price keeps fluctuating near the intraday bullish channel’s support above this level, while stochastic provides a positive overlapping signal on the four-hour time frame supporting the chances of bouncing higher to resume the bullish trend in the upcoming sessions. The price is likely to breach 1,263.17 levels to confirm the extension of the bullish wave to 1,300.00. Therefore, the bullish trend will remain preferred on the intraday basis unless breaking 1,250.00 levels, which will delay the bullish wave and push the price to 1,231.13 before any new attempt to rise. The expected trading range for today is between the 1,242.00 support and the 1,270.00 resistance.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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